February 13, 2023 — Bergen, Norway-based Proximar Seafood has secured JPY 8.8 billion (USD 66 million, EUR 61 million) in financing via a loan offer from a syndicate that includes two Japanese banks for the land-based salmon farm it’s building near Tokyo, Japan.
The offer consisted of a highly confident letter along with a term sheet – which the company said should be “considered a strong statement of comfort from the banks” on providing the financing the company needs for its salmon recirculating aquaculture system (RAS) facility, currently under construction in in Shizuoka Prefecture. The names of the banks were not released by Proximar. Proximar signed a contract with RAS specialist AquaMaof in early 2020 for a design and build of a facility with a 5,300 MT annual production capacity of gutted salmon in its first phase.